US GDP history · 2024
US GDP in 2024
In 2024, the US economy was worth about $28.75T and real output grew 2.79% — the 36th-fastest of the 64 years on record. Here's where that sits in 65 years of data, the story behind it, how big the economy was versus the $28.75T of 2024, and how it compares.
- 2024 GDP $28.75T nominal output
- Real growth 2.79% year over year
- GDP per capita $84,534 output per person
- vs today $28.75T in 2024
The economy in 2024
In 2024, the economy grew 2.79% in real terms, leaving total output at about $28.75T. That made it the 36th-fastest of the 64 years on record, and below the long-run average of 3.02%. The economy has grown to $28.75T by 2024 — roughly 1.0× its 2024 size in nominal terms. Spread across the population, output worked out to about $84,534 per person, against $84,534 today.
What happened in 2024
Real GDP the economy grew 2.79% in 2024, down from 2.89% in 2023. That made it the 36th-fastest of the 64 years on record — a year of expansion — and below the long-run average of 3.02%.
How 2024 compared
Across the full 1960–2024 record, real growth has averaged about 3.02%, so 2024 ran below that long-run norm. Within the 2020s, growth averaged roughly 2.42%, and 2024 sat above its own decade. Five years earlier, in 2019, the economy grew 2.58%.
Output and jobs move together: when GDP stalls, recessions show up in jobs too. See what unemployment did in 2024 for the labor-market side of the same story.
Growth and prices are two sides of the same economy. See what inflation did in 2024 to round out the picture.
This is one year out of the whole story. For the complete history — every year since 1960, the fastest year and the deepest contraction, the decade-by-decade view, and what drives growth over time — see historical US GDP, 1960–today.
US GDP in 2024 — FAQ
What was US GDP in 2024?
US nominal GDP was about $28.75T in 2024 ($28,750,956,130,731). Real output the economy grew 2.79% over the year, and GDP per capita was about $84,534.
Did the US economy grow or shrink in 2024?
It grew: real GDP rose 2.79% in 2024 — the 36th-fastest of the 64 years on record, below the long-run average of 3.02%. That was down 0.10 points from 2.89% the year before.
What was US GDP per capita in 2024?
GDP per capita — total output divided by population — was about $84,534 in 2024, versus $84,534 in 2024.
How does 2024 GDP compare to today?
The US economy was worth about $28.75T in 2024, against $28.75T in 2024 — roughly 1.0× larger today in nominal terms.
